13D Filing: JCP Investment Management, LLC and Fiesta Restaurant Group Inc. (FRGI)

O.

Messrs. Bylinsky and Gramm

(a)

Each of Messrs. Bylinsky and Gramm, as the Managing Partners, Managing Directors and Portfolio Managers of Bandera Partners, may be deemed the beneficial owner of the 397,239 Shares owned by Bandera Master Fund.

Percentage: Approximately
1.47%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 397,239 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 397,239

(c)

Neither of Messrs. Bylinsky or Gramm have entered into any transactions in the Shares during the past 60 days.

P.

Lake Trail Fund

(a)

As of the close of business on May 12, 2017, Lake Trail Fund beneficially owned 600,000 Shares.

Percentage: Approximately
2.22%

(b)

1. Sole power to vote or direct vote: 600,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 600,000 4. Shared power to dispose or direct the disposition: 0

(c)

Lake Trail Fund has not entered into any transactions in the Shares during the past 60 days.

Q.

Lake Trail Capital

(a)

Lake Trail Capital, as the Manager and Investment Manager of Lake Trail Fund, may be deemed the beneficial owner of the 600,000 Shares owned by Lake Trail Fund.

Percentage: Approximately
2.22%

(b)

1. Sole power to vote or direct vote: 600,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 600,000 4. Shared power to dispose or direct the disposition: 0

(c)

Lake Trail Capital has not entered into any transactions in the Shares during the past 60 days.

R.

Lake Trail GP

(a)

Lake Trail GP, as the general partner of Lake Trail Capital, may be deemed the beneficial owner of the 600,000 Shares owned by Lake Trail Fund.

Percentage: Approximately
2.22%